When are Apricot Lane royalties due for the period of the 1st through the 15th of the month?
Apricot_Lane Franchise · 2025 FDDAnswer from 2025 FDD Document
Royalties shall be paid on or before the twentieth (20th) of each month for the preceding period of the first (1st) through the fifteenth (15th) and the fifth (5th) of each month for the preceding period of the sixteenth (16th) through the last day of the month. With each payment, FRANCHISEE will submit to FRANCHISOR on a form approved by FRANCHISOR, a correct statement, signed by FRANCHISEE, of FRANCHISEE's Gross Revenues (defined in Section 12.C below) for the preceding semi-monthly period. Each semi-monthly statement of Gross Revenues shall be accompanied by FRANCHISEE's calculation of the Royalty payment based on the Gross Revenues reported in the statement so submitted and a sales report for the preceding semi-monthly period. FRANCHISEE shall make available to FRANCHISOR all original books and records that FRANCHISOR may deem necessary to ascertain FRANCHISEE's Gross Revenues for reasonable inspections at reasonable times.
Source: Item 23 — RECEIPTS (FDD pages 51–222)
What This Means (2025 FDD)
According to Apricot Lane's 2025 Franchise Disclosure Document, royalties for the period of the 1st through the 15th of the month are due on or before the 20th of that month. Along with the royalty payment, the franchisee must submit a statement of gross revenues for that semi-monthly period on a form approved by Apricot Lane, including the franchisee's calculation of the royalty payment and a sales report for the period. Franchisees must also make available all original books and records for inspection to verify gross revenues.